The inflation for the period of January – November 2022 increased by 3.4 per cent as compared to 2.3 per cent for the same period in 2021. On a monthly basis, the inflation in November 2022 recorded 0.3 per cent as compared to 0.2 per cent in October 2022. Malaysia’s rate of inflation increased 4.0 per cent in November 2022 as compared to the same month of the previous year (October 2022: 4.0%).
The findings revealed by the Department of Statistics Malaysia (DOSM) in its report dubbed ‘Consumer Price Index Malaysia November 2022 on Friday stated that the inflation rate for the food sector increased 7.3 per cent and remained as the main contributor to the rise in the inflation for this month.
Meanwhile, Restaurants & Hotels continued to show an increase to 7.0 per cent as against October 2022 (6.8%). However, the slower increase in inflation as compared to October 2022 for Transport (5.0%) and Furnishings, Household Equipment & Routine Household Maintenance (3.8%) to a certain extent has eased the national inflation.
Food & Non-Alcoholic Beverages group continues recorded increases to 7.3 per cent (October 2022: 7.1%). This increase was partly driven by the increase in the price of cooked food, mainly on chicken and flour based. The Food at home index increased by 9.6% (October 2022: 9.3%). Meanwhile, the Food at home component recorded an increase of 5.8% (October 2022: 5.8%).
Meanwhile, the core inflation rate registered higher increase of 4.2 per cent in November 2022 (October 2022: 4.1%). Core inflation measures changes in the prices of all goods and services, excluding volatile items of fresh food as well as administered prices of goods by the government.
In November 2022, four states that showed increases above the national inflation level of 4.0 per cent were Wilayah Persekutuan Putrajaya (7.9%), Selangor (4.8%), Sarawak (4.7%) and Johor (4.2%). However, Wilayah Persekutuan Labuan recorded the lowest increase of 2.4 per cent.
Malaysia recorded a lower inflation rate than some selected countries, namely the Euro Zone (10.0%), United States of America (7.1%), Philippines (8.0%), Thailand (5.6%), Indonesia (5.4%) and the Republic of Korea (5.0%).
